Copyright: | (c) 2010 The New York Times Company |
Source: | New York Times Digital |
Wordcount: | 342 |
In a filing with the
”This success is another important vote of confidence by the market in A.I.G.,” the company’s chief executive,
The deals come with several contingencies for the insurer, including an obligation to maintain a specific minimum net worth and to limit its total debt. Another condition of the credit: A.I.G. must repay it credit line with the
In early December, A.I.G. disclosed in a S.E.C. filing that it had formalized a deal to repay the New York Fed, including some
”Today’s announcement is a milestone in the government’s long-stated efforts to exit our investments in private companies as soon as practical while protecting taxpayers,”
In an effort to pay back taxpayers, A.I.G. has moved to sell assets and raise money over the past six months. The insurer penned a
This is a more complete version of the story than the one that appeared in print.
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